Overview of the global cloud security market in the retail sector
Market research analysts at Technavio have predicted that the global cloud security market in the retail sector will grow impressively during the predicted period and will post a CAGR of almost 21% by 2020. This market research analysis identifies the increasing need to reduce the total cost of ownership (TCO) as one of the primary growth factors for the cloud-based security market. In conventional on-site software, TCO includes the costs for software implementation, software licensing, and also the high maintenance cost. Whereas in cloud services, vendors are responsible for software maintenance, backup, implementation, and regular updates, which substantially reduces operational costs by eliminating the need for IT personnel. Cloud security software is based on the pay-per-use model where customers pay according to their use of services. Also, it offers a wide range of connection options and eliminates the need for any connection-related expenditure.
The constantly changing business scenarios will induce organizations to develop a mobile workforce to stay competitive in the market. This will increase the need for flexible IT services. Also, the changes in work locations, time zone barriers, and the need to access official and confidential data from remote locations will increase the adoption of cloud services. As a result, IT service providers will start providing customized cloud services for mobile devices such as smartphones and tablet computers, which in turn, will demand the need for advanced cloud security solutions.
Competitive landscape and key vendors
The market is characterized by the presence of several well-diversified regional and international cloud security vendors. As the international players are increasing their foothold in the market, the regional vendors are finding it difficult to compete with them. The coming years will also witness established cloud security vendors acquiring smaller vendors to improve their product portfolio and also increase their share of the market. Leading cloud security providers will also invest in their R&D to develop cloud-based security tools with features such as access control and strong device security, which will help them gain a competitive edge over their competitors.
The leading vendors in the market are -
- Cisco
- IBM
- Intel (McAfee)
- Symantec
- Trend Micro
The other prominent vendors in the market are CA Technologies, Check Point Software Technologies, CipherCloud, Clearswift, CloudPassage, CSC, Dell Secure Works, Fortinet, Microsoft, Netskope, Okta, SafeNet, Sophos, Symplified, and Zscaler.
Segmentation by solutions and analysis of the cloud security market in the retail sector
- DLP (data loss prevention)
- E-mail security
- IDS/IPS (intrusion detection system/intrusion prevention system)
- IAM (identity and access management)
Accounting for more than 37% of the market shares, the IAM market segment dominated the industry during 2015. The requirement for transferring large amounts of data, the increased use of mobile devices, and the growing need for high-level security of data and retailer identity will fuel the growth of the market in this segment.
Geographical segmentation and analysis of the cloud security market in the retail sector
In terms of geography, the Americas will account for more than 49% shares of the global cloud security market in the retail sector by 2020 and will also dominate this market throughout the forecast period. This mainly attributes to the presence of several global financial institutions and large companies and the availability of adequate business and IT infrastructure in the region. Moreover, the increasing number of cyber-attacks on enterprise cloud services will also have a positive impact on the growth of the cloud security services market in this region.
Key questions answered in the report include
- What will the cloud security market size and the growth rate be in 2020?
- What are the key factors driving the global cloud security market in the retail sector?
- What are the key market trends impacting the growth of the global cloud security market in the retail sector?
- What are the challenges to market growth?
- Who are the key vendors in the global cloud security market in the retail sector?
- What are the market opportunities and threats faced by the vendors in the global cloud security market in the retail sector?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global cloud security market in the retail sector?
Technavio also offers customization on reports based on specific client requirement.
Related reports
Cloud security provides security to cloud-based services or cloud computing architectures. Cloud security focusses on the safety of critical parameters such as compliance, governance, data protection, architecture. This security solution can either be used independently or with a host of other solutions and products. In the retail sector, it offers several features including encryption, IAM, endpoint monitoring, vulnerability scanning, intrusion detection, and application and messaging security. It also helps in protecting cloud content from unauthorized access and data theft.
The report, global cloud security market in the retail sector, is part of Technavio’s ICT research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as automatic identification system, cloud computing, data center, enterprise application, IT security, ITO and BPO, and product lifecycle management. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.
Table of Contents
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
- Research methodology
- Economic indicators
PART 04: Introduction
PART 05: Architecture of cloud security
- Overview of cloud market
- Types of cloud storage
- Cloud security threats in retail sector
- Types of cloud security
PART 06: Market landscape
- Stolen vendor credentials
- Market size and forecast
PART 07: Life cycle analysis
PART 08: Market segmentation by solutions
- Global cloud security market in retail sector by solutions
- Global cloud IAM market in retail sector
- Global cloud e-mail security market in retail sector
- Global cloud IDS/IPS market in retail sector
- Global cloud DLP market in retail sector
PART 09: Geographical segmentation
- Global cloud security market in retail sector by geography
- Global cloud security market in retail sector by geography (revenue)
PART 10: Key leading countries
PART 11: Buying criteria
- Buying criteria for cloud security
PART 12: Market drivers
- Cloud security leverages cloud deployment in retail sector
- Increase in phishing and malware attacks in retail sector
- Stringent PCI DSS standards
- Need to reduce TCO
PART 13: Impact of drivers
PART 14: Market challenges
- Threat from open-source cloud computing vendors
- Inconsistent network performance
- Lack of awareness about cloud security among end-users
PART 15: Impact of drivers and challenges
PART 16: Market trends
- Shifting focus of cybercrimes to online retailers and smaller business
- Increasing mobile workforce
- Increase in partnerships between cloud service and traditional security solution providers
PART 17: Vendor landscape
- Competitive scenario
- Vendor matrix
- Description of leading vendors
- Vendor highlights
PART 18: Recommendations to retailers
- Protect retail and POS systems
- Prevent remote access and allow use of two-factor authentication
- Reduce fraud in card transactions
PART 19: Appendix
PART 20: Explore Technavio
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape